China to roll out more successful practices of pilot FTZs

BEIJING — China’s Ministry of Commerce will push forward the formation of more replicable practices in the country’s free trade zones (FTZs), a ministry spokesperson said on April 11.

“Currently, the ministry has sorted out a new batch of experiences from pilot FTZs, which will be released to the public at a proper time,” spokesperson Gao Feng said at a press conference.

Since the first pilot FTZ was established in Shanghai in 2013, China has set up 12 pilot FTZs nationwide, resulting in a total of 153 successful practices that have been replicated in other parts of the country.

Such practices have played a positive role in lightening the corporate burden, stimulating the vitality of market entities, optimizing the business environment and sharing the benefits from reform and opening-up, Gao said.

The ministry is also working with Shanghai on the planning for a new area of the Shanghai FTZ, he added.